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Former US president and 2024 Republican presidential hopeful Donald Trump, pictured dancing at a campaign event, is facing multiple felony charges
Ex-POTUS Donald Trump has been skeptical of cryptocurrency in the past, saying Bitcoin and other cryptocurrencies weren’t money.
AFP

KEY POINTS

  • Donald Trump said in 2019 that he wasn’t a fan of Bitcoin and cryptocurrencies
  • The ex-POTUS said in 2021 that Bitcoin seemed like a “scam”
  • He then launched an NFT collection in 2022
  • His wife has also launched two NFT collections

Ex-president Donald Trump, a critic of cryptocurrency in the past, has Ethereum assets of up to $500,000, his latest financial disclosure filing has revealed.

The news comes about two years after he called Bitcoin “a scam.”

An item described as “cryptocurrency wallet (Ethereum)” is listed on Donald’s 2023 filing with the Office of Government Ethics (OGE). Its value is between $250,000 and $500,000, as per the filing that was first reported by Bitcoin.com.

The crypto wallet is believed to be likely connected with the sale of non-fungible tokens (NFTs) he launched late in 2022 as part of his 2024 presidential bid. The filing notes that Donald earned $298,000 from the venture.

The said NFT collection sold out a day after its release. At the time, data from OpenSea revealed that the collection’s trading volume was at 900 ETH or approximately $1.08 million. Donald went on to release another NFT collection in April that also sold out.

Following his indictment earlier this year over alleged hush money paid to an adult film star, sales of Donald’s NFT trading cards saw a spike as sales increased over 400% in about 24 hours after his indictment was announced. Nearly 14,000 unique individuals became owners of his NFT cards at the time.

Among the business mogul’s NFT digital cards were cartoon illustrations of himself, one that showcased a spacesuit and sunglasses and another depicting the former U.S. president as a superhero shooting lasers from his eyes.

News of Donald’s crypto wallet emerged a few years after he expressed skepticism over digital assets.

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” he tweeted in mid-2019.

In 2021, he said Bitcoin seemed like a “scam,” adding that he didn’t like the digital asset as it was just another U.S. dollar competitor.

About an hour after Donald’s comments were aired, Bitcoin’s price dropped by over 1.3% before rebounding later.

Donald’s wife, Melania Trump, has also launched multiple NFT collections even if the first one was believed to have been bought by the former FLOTUS herself after an analysis found that the winning bid was linked to members of her team.

Meanwhile, a meme coin called TrumpCoin, which describes itself as a cryptocurrency that supports the Trump administration, continues to build its community as it looks to “become the new high-quality standard within the Crypto Space.”

The meme coin’s website notes that the cryptocurrency is in no way affiliated with the ex-POTUS or his family but that it will donate 5% of its marketing budget to the Trump campaign.